Mitime says investments at UMC will be focused on growth and profitability

2019 will be a rebuilding year for Utah Motorsports Campus, according to Dixon Hunt, UMC vice-president of marketing and partnerships. “Up to this point, we ran the facility for the county on a year-by-year agreement,” he said. “Now that we own it, we can make long term commitments. That will help us in scheduling events and recruiting sponsors.” The end of the year closing time for the UMC sale has put the new owner — Mitime Utah, LLC — at a disadvantage in scheduling the 2019 racing season, according to Hunt. “We didn’t know until October that we were going to get to buy UMC,” he said. “And then there were two months of negotiations. That made scheduling series for 2019 difficult.” UMC isn’t ready to announce its 2019 schedule yet, but it can say that the Nitro World Games, the MotoAmerica Series, and Lantern Fest — now named Night Lights — will be back in 2019, according to John Gardner, UMC’s public relations manager. During the three and half years since Tooele County’s first attempt to sell the former Miller Motorsports Park to Mitime, county officials have said one reason they rejected an offer for more cash was Mitime’s lower bid included investments in the facility that would reap future economic benefits more valuable than a short-term benefit of more cash in the bank.

The 2015 deal included promises and speculation of an initial investment of around $6 million to upgrade the facility, a hotel-like dormitory to house 60 to 80 people, a three-eighths-mile oval for training drivers, a manufacturing facility, tourists from China, and educational opportunities. The previous plans may have changed, but Hunt remains adamant that under Mitime’s ownership, UMC will see significant investment and growth. “We would not have laid out the huge investment to buy this facility if we did not have the intention to grow this place,” he said. Mitime is currently working on an exploratory study of several possibilities for UMC, according to Hunt. While Hunt didn’t mention any specific projects, his message was clear — whether it’s a drag strip and racing oval or a hotel, the key to future investments will be profitability. “We have shareholders to answer to now,” Hunt said. “They are ready to make the investment necessary to grow business, but we have to show them that there will be profitability.” Along with profitability, UMC has to consider things like infrastructure, permits, zoning and a variety of regulations, he said. “Our biggest problem right now with bringing in big crowds is roads,” Hunt said. “I have to meet with emergency management people at the county and plan different routes to bring people in. We really need the Midvalley Highway.”

Part of the reason for changes from Mitime’s initial plans for UMC is the needs of Geely Holding Company, Mitime’s parent company, have changed. Back in 2015, Geely had one racetrack under construction in China and four more on the drawing board. UMC was going to be used as a training ground for both racetrack operations and race car drivers. Workers and race car drivers from China would come to UMC, stay in the hotel on the grounds, and learn their job. Geely, China’s largest private automobile manufacturer, would ship over parts to race cars that would be assembled here. After training, the drivers and cars would be shipped back to China. Geely has opened its first racetrack in China, and no longer needs a U.S.-based training facility, according to Hunt. Geely itself has changed, becoming a global company with ownership of Volvo, Proton, Lotus, the London Taxi Company, Terrafugia, and the largest shareholder in Daimler. Geely also recently announced plans to work with China Aerospace Science and Industry Corporation on supersonic train technology. Geely’s growth has helped UMC, according to Hunt. “It has really helped us when it comes to scheduling some of these big events out here to have the backing and influence of a global company,” he said. In addition to changes in Geely, the racing industry itself is changing, according to Gardner.

“We’re starting to see events where the facilities are more entrant, or participant-centered, with spectators from around the world watching a broadcast,” he said. Under Mitime’s management, UMC has already branched out into hosting non-motorized events and renting meeting space. “We’re probably Utah’s largest outdoor event venue,” Hunt said. Attracting new events like Lantern Fest and the Nitro World Games, along with renting meeting facilities, has helped reduce UMC’s operating loss, according to Hunt. Without putting a figure on the loss amount, Gardner, who has worked at UMC since it was opened by Larry Miller in 2006, said the operating loss is lower than it has ever been. “That’s just it,” Hunt said. “Geely didn’t buy UMC to just let it sit as is and lose money. With three years experience running this place, we know it can make money, but it’s going to have to grow. This will be a rebuilding year. But watch, this place is going to grow.”

In 2019, when spring returns, there is a fresh start for everything. After a memorable year in 2018, we are about to enter a new year that will be full of new challenges and opportunities.

Everyone in the group should share their passion for the opportunities to come and prepare for the tasks ahead. On behalf of Zhejiang Geely Holding Group’s board of directors, I wish a happy new year to all our employees and partners. I also express our thanks for your hard work and contribution to the Group’s development. In 2018 in China, we marked the 40th anniversary of the country’s reform and opening-up. It was also a crucial year for China’s economy as it continued to transition from high-speed development to a new stage of high-quality development. This coincided with a year of black swan events that have occurred around the world, affecting the development of the global economy.

Over the past year, the global automotive industry has undergone many changes. As new technologies and powerful trends have begun to reshape the marketplace, traditional automakers have not stood idly by. They have embraced partnerships and have actively responded to growing challenges. Technology companies have taken the opportunity to build their online capabilities and seize market share. This was a very busy year for everyone, creating opportunities for some and reducing the power of others.

In 2018, Volvo Car Group announced that by 2025 the majority of its sales would come from electrified vehicles and a third of them would be self-driving capable as well, which has furthered strengthened the strategic direction of comprehensive electrification and highly intelligent vehicles. On September 5 Volvo announced the totally autonomous 360C concept car which shows the capability of a future with complete connected autonomous vehicle, showcasing the potential change that driverless cars will bring.

Volvo Cars and Geely Auto’s jointly-developed CMA architecture has already received global praise, with models such as the Volvo XC40 being awarded European Car of the Year and Japanese Car of the Year.

As a Volvo Cars subsidiary, Polestar continues to drive the future of electric car development with continued innovation, pure minimalist design and high-performance capabilities which is already appealing to many consumers.

In 2018, Volvo global sales have exceeded 600,000, setting a new record for the fifth year in a row. Within the next few years, Volvo’s first US plant will be running at full capacity, creating approximately 4,000 new jobs and completing Volvo’s global manufacturing layout with plants across Europe, China, and now America.

In 2018, Geely Auto has deepened its refined cars development strategy which has given its users an even greater sense of refinement. Against all odds, Geely Auto has grown and thrived in a difficult market.

Meanwhile, Lynk & Co has also launched a series of new models, attracting an increasingly younger consumer base to this new brand. At PROTON, the first model jointly developed by its partnership with Geely Auto, the Proton X70 SUV, has been launched in Malaysia, initiating PROTON’s complete revitalization.

Lotus celebrated its 70th anniversary and have continued to maintain their leadership in the development and production of lightweight, high-performance sports cars.

2018 was also the first year Geely Auto fully entered into the new energy vehicle era. Cooperating with partners around the world, Geely Auto is moving to build a global industrial value chain that can provide customers with highly competitive new energy and electrified vehicles. This will ensure that Geely reaches its ‘20200 strategy’ goals and show our commitment to society. At Geely Holding Group, significant progress has also been made in the field of new energy commercial vehicles and commercialization of methanol vehicles.

The London Electric Vehicle Company has moved to become the pioneer of zero-emission vehicles in the global urban transportation sector.

This year, Geely Auto production and sales have exceeded 1.5 million units, with a strong balance between sedans and SUV models. Many models have continued to be market leaders within their respective segments.

Geely Auto’s R&D capabilities has also been enhanced with new scientific and technical achievements emerging endlessly from their labors. Geely has launched more than 10 models that are equipped with Level 2 assisted driving capabilities, making a breakthrough among Chinese brands. The highly acclaimed newly developed B-segment modular architecture BMA, which also carries Geely’s L2 technology, will further the adoption rate of L2 capable vehicles as products are launched.

In 2018, great progress was made as Geely invested in education programs with the various business units of Mitime Group undergoing a strong transformation.

The Zhejiang Li Shufu Education Foundation has been renamed Zhejiang Li Shufu Public Welfare Foundation as it upgrades its mission to address societal challenges with long lasting and meaningful poverty alleviation programs.

Geely’s “Timely Rain” targeted poverty alleviation project has been implemented over the two years with Geely offering education and skill training to those who need it most.

In China, Geely has helped to lift people out of poverty caused by a lack of opportunity, uneven industrial change, inefficient agricultural practices, and other reasons. The project has so far helped more than 10,000 students attend school and even obtain employment within the Geely Group. It has also started more than 20 sustainable agricultural cooperative enterprises in 32 villages giving them the ability to thrive and lift themselves out of poverty.

In 2018, Zhejiang Geely Holding Group has actively promoted the growth of innovative technology companies across the Group, which is helping to transform traditional automakers into mobility service providers.

By combining Internet, big data, artificial intelligence and other technologies, Geely’s GKUI system has become an intelligent ecosystem that lays the foundation for the Internet of Vehicles. We have also joined hands with Daimler as both parties begin exploring into the development of high-end private mobility services. Separately, we have moved to work with Tencent, China Railways, CASIC, and China Telecom where we are laying the groundwork of next generation mobility services and technologies which includes railway mobility services, supersonic trains, industrial internet, 5G, V2X and other cutting-edge technologies for the realization of a three-dimensional smart mobility ecosystem.

We are investing in these technologies to create a better transport system, develop better technologies and create better experiences for users. All of our work must relate to the automotive industry as Zhejiang Geely Holding Group remains automotive focused at its core, we must become globally competitive.

In 2019, we will face even greater challenges, but the opportunities that we see will also be greater. As long as we know our direction, are confident, forward facing, and make the right decisions, we can seize the opportunities and grasp our future. If we make the wrong decisions, we will set the Group back. So, this will be a crucial year, testing whether we can develop sustainably or not. We must lay the foundation for our survival, otherwise we may soon face a period of demise.

The 21st Century is a century of scientific and technological revolution, of industrial transformation, and of economic reshaping. It is emerging as a century of cross-sector integration, of resource sharing, of cooperation, and win-win partnerships. The bigger our circle of friends, the better our rewards will be.

In 2019, disruptive technologies will continue to sweep through the automotive industry. Change is coming from across the spectrum. In the world of Internet of Everything and with the increasing power of Artificial Intelligence chips, future vehicles will no longer just be a simple tool for transportation; they will become mobile computing centers, storage centers with highly integrated on and off-line services, there is a need for wider solidarity and cooperation between automobile companies.

In 2019, all enterprises under Zhejiang Geely Holding Group will remain relatively independent whilst looking for synergies where opportunities for cooperation exist. I wish to restate that Geely is Geely, Volvo is Volvo, Lotus is Lotus, PROTON is PROTON, Polestar is Polestar, Yuan Cheng is Yuan Cheng. Everyone has their own place, with their own brand position, actively participating in the market, striving to grow their market share. But in some fundamental areas of technological R&D, infrastructure building, etc., synergies will be pursued, scale increased, cost reduced, and value to the end user raised.

In this era with thousands of brands competing, with millions of unit sales occurring each year, we must not become too prideful, complacent, hesitant, or rash in our business methods. We can advance and survive into the future only by conforming with historic trends, actively adapting to the times, and by correctly making adjustments, and developing on and off-line in terms of software and hardware.

The future is not for those who stand alone. Zhejiang Geely Holding Group is willing to participate in the transformation of the global automotive industry in partnership with all outstanding organizations, finding synergies across sectors, sharing resources, cooperating, forming win-win partnerships, in line with legal compliance, fairness and transparency, and taking into account the interests of all partners with the ultimate goal of providing users with even better solutions.

Focusing on the future, not just on business development and industrialization, we will continue to place emphasis on the consumer and on their experience whilst remaining committed to sustainable social development, clean energy, environmental protection, safety, privacy, and other areas affecting people’s daily livelihood.

The years ahead may be completely beyond what you or I predict; the best way to grasp tomorrow is to create your own future. But we must not daydream, we must advance step by step, work hard with every task, turn dreams into reality, with success being rewarded to those who are resolute.

As we embark on the next stage of our strategic vision, I sincerely wish everyone happiness, health, and good fortune in the year to come.

TOOELE VALLEY, UTAH (November 5, 2018) — The racing facility known as Utah Motorsports Campus (UMC) has changed ownership. Following a vote by the Tooele County Commissioners, Tooele County has agreed to sell Utah Motorsports Campus to Mitime Utah Investment, LLC (Mitime).

Mitime is a subsidiary of the Geely Holding Group of China, a publicly-traded company on the Hong Kong Stock Exchange that is currently ranked 267 on the Fortune Global 500 list. Geely Motors is the largest private automobile manufacturer in China; in addition to its own Geely-branded cars, the company also owns the Volvo, Polestar, Proton (which includes Lotus), Lynk & Co and London Taxi Cab brands as well as the Terrafugia flying car brand. Geely operates manufacturing plants in China, the United States, England, Sweden, Belgium, Belarus, Australia and Malaysia. Geely is also the largest private shareholder of stock in Daimler, the parent company of Mercedes-Benz.

The company has plans to build 10 similarly-sized racetracks in China; the first one, Ningbo International Circuit, opened in 2017 and the second track is currently under construction. Geely has also developed a TCR regulation car under the Lynk & Co banner that will begin to see action in the FIA World Touring Car Cup (WTCR) in 2019.

“We are thrilled to finally consummate this agreement to purchase Utah Motorsports Campus,” said William Lee, vice president of Mitime. “This facility is a perfect fit with our company’s other enterprises, and we are looking forward to making it bigger and better in the future.

“We very much appreciate the efforts of Tooele County to make this effort come to fruition, and we are humbled by the outstanding support we have received from the people of Utah since we began operating the facility.”

“We are really excited about the future of UMC, and we have significant plans for the facility,” said Willem Geyer, CEO of UMC. “We are studying the viability of adding various race tracks, entertainment venues and supporting infrastructure that will not only solidify our position as one of Utah’s major entertainment facilities but also ensure that UMC will be a profitable venture for the first time in its history.”

The sale of UMC includes the racetrack as well as all buildings and physical assets in addition to the 511-acre property. Current leases with tenants, event organizers and race sanctioning bodies will be honored under the agreement but may be subject to changes in 2019.

Originally built as Miller Motorsports Park by the late Utah businessman Larry H. Miller and designed by renowned track designer Alan Wilson, the venue opened in 2006 to international acclaim. The track was named “Motorsports Facility of the Year” in its debut season by the Motorsports World Expo in Cologne, Germany. The campus includes a multi-configurational 4.438-mile road racing circuit, a 0.9-mile, multi-configurational kart track, an off-road short course, a rock-crawling course and the Nitro World Games rallycross track.

During its history, the circuit has hosted many of the world’s top racing series, including the FIM Superbike World Championship, American Le Mans Series, Grand-Am Road Racing Championship, Pirelli World Challenge, MotoAmerica Superbike Championship, Lucas Oil Pro Motocross Championship, Lucas Oil Off Road Racing Series, NASCAR K&N Pro Series West, AMA Supermoto Championship, the American Historic Racing Motorcycle Association (AHRMA), Stars of Karting and many more.

The Miller family operated the facility under a lease agreement with Tooele County, which owned the property. When the 10-year lease expired in 2015, the Miller family declined to extend the agreement and the track fell under the supervision of the county. Mitime attempted to purchase the track then, but legal battles postponed the sale until now. In order to keep the facility functional and viable, the county hired the Mitime group – which included many of the employees from Miller Motorsports Park – to manage and maintain the facility beginning in 2016. The named was changed to Utah Motorsports Campus at that time to eliminate confusion.

Under Mitime’s management, the facility has made significant efforts to cut costs and broaden the variety of events it hosts. In 2018 the track hosted MotoAmerica, Pirelli World Challenge, the Lucas Oil Off Road Racing Series and the AHRMA Bonneville Vintage Grand Prix, plus a full slate of amateur racing for sports cars, motorcycles, karts and off-road vehicles and a number of open track days for both cars and bikes. In September, UMC hosted Travis Pastrana’s innovative Nitro World Games, including the world debut of Nitro Rallycross, which was a huge success. Non-racing events included two Lantern Fests, two big car shows and numerous corporate events.

The 2019 schedule of events for UMC will be released in the near future.

For event or ticket information, or for questions regarding UMC, call 435-277-8000 or visit the track’s website at www.UtahMotorsportsCampus.com.

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Media Contact:

John Gardner, Public Relations Manager

Email:This email address is being protected from spambots. You need JavaScript enabled to view it.

Salt Lake City, UT – Nitro World Games raised the bar with the competition additions of Nitro Rallycross and FMX Quarterpipe and over delivered with a high velocity, action packed weekend enjoyed by fans in Utah and from around the world on Velocity, theMotor Trend App, and on Facebook.

FMX Best Trick

Sunday’s competitions kicked off with the world’s best riders getting technical for FMX Best Trick. Adam Jones came out swinging throwing down a massive cliffhanger flip earning him a high score and giving him an early lead. Pat Bowden, two-time Nitro World Games FMX Best Trick podium finisher stepped it up with a flawless Look Back Christ Air Flip that shot him into first place. Last up was Josh Sheehan. Sheehan, the one they call the Unicorn, had his sights on first with his Kiss of Death Double Flip but he over rotated and got caught up in his rear wheel (the tire even tore his jersey off). With just one chance left, Sheehan was able to battle fear and wind to land his KOD Double Flip, but it wasn’t quite clean enough to secure him first place.

FMX Best Trick Final Results

PLACE

NAME

NAT

1st

Pat Bowden

AUS

2nd

Josh Sheehan

AUS

3rd

Adam Jones

USA

Nitro Rallycross

An absolutely insane, exhilarating, action packed day of racing left fans and drivers filled with adrenaline and with smiles on their faces. The innovative course design delivered the most exciting racing seen at any rally race, ever. In the words of Timmy Hansen describing the event in one word, “Unreal”.

During Semifinal 1, Timmy Hansen successfully fought off the likes of Steve Arpin, Tanner Foust, and Chris Atkinson while in Semifinal 2, Scott Speed took the top spot with Mattias Ekstrom, Travis Pastrana, and Patrik Sandell close behind. Then heading into the Final where already intense racing only increased, eight drivers lined up on the grid ready for combat. Timmy Hansen held his own keeping Mattias Ekstrom at bay with Tanner Foust close in behind.

Nitro Rallycross Final Results

PLACE

NAME

NAT

1st

Timmy Hansen

SWE

2nd

Mattias Eckstrom

SWE

3rd

Tanner Foust

USA

FMX Quarterpipe

The world’s largest mechanical FMX Quarterpipe did not disappoint. The competition began with riders finding their footing on the massive behemoth, but it quickly escalated to them sending it to the moon. In the final round it was down to Colby Raha and Axell Hodges continuously one-upping each other until Rahalanded an unprecedented 45.2’ jump off the Nitro World Games Quarterpipe earning him the title of champion and taking home gold.

About Nitro World Games

Created by Nitro Circus and action sports icon Travis Pastrana, Nitro World Games pushes the limits of action sports competition. Featuring new big air formats, breakthrough ramp technology and innovative judging criteria, Nitro World Games shifted the landscape for both athletes and the industry alike in its 2016 debut. Now, with the addition of Nitro Rallycross and FMX Quarterpipe, Nitro World Games has revolutionized action sports competition once again.

Nitro World Games 2018 sponsors include the Utah Sports Commission, Red Bull, Kevlar, Yokohama, Ripley’s Believe It or Not, United States Air Force, Subaru, Volkswagen, and cbdMD.

Jeff Robbins, president and CEO of the Utah Sports Commission said, “We are thrilled to continue our partnership with one of the top action sports events in the world, the Nitro World Games, that also brings significant economic impact and extensive international exposure to our great State.”

“We are so excited to team up with Red Bull for Nitro Rallycross,” said Travis Pastrana. “The years of experience in the sport they bring to the table validates our vision for the best rallycross event in the world.”

“We’re pleased to continue our partnership with Nitro World Games in 2018 and especially excited to be able to showcase our product this year,” said Andrew Briggs, Yokohama Tire, Vice President of Marketing. “We’ve got a great history and a lot of experience in Rallycross and will be bringing the ADVAN A054 as the official spec tire for the NRX competition. Our tire, combined with these drivers on Nitro’s track, is going to make for some great racing.”